Substantial blue sky growth ahead Very nice
ORGANIGRAM TO INCREASE GROWING CAPACITY BY 500% OVER NEXT 4 MONTHS
Moncton, N.B. September 10, 2014 – OrganiGram Holdings Inc. (TSX-V: OGI) (OTC US:OGRMF) (the “Company”) is pleased to provide an update on the expansion currently underway at its Medical Marijuana facility in Moncton, NB.
On July 14th, the Company began construction on three additional grow rooms, each of which will consist of 72 flowering lights. These rooms are expected to begin production on October 15th, 2014. Additionally, the company will begin construction of a further 9 flowering rooms on October 1st, 2014. These 72 flowering light rooms are expected to begin producing in December 2014.
Once completed, this phase of expansion will add 12 grow rooms totaling 864 flowering lights to the current facility. This increase will represent an additional 3,000kg of production per year, which represents an annual revenue increase of $21,000,000.
CEO Denis Arsenault states, “This is a very exciting time for Organigram and all of our shareholders. This is the first stage of a multi-stage expansion plan and we are very pleased with the speed at which we have been able to execute.”
About Organigram Holdings Inc.
Organigram Holdings Inc. is a TSX Venture Exchange listed company who’s wholly owned subsidiary, Organigram Inc., is a licensed producer of medical marijuana in Canada. Organigram is focused on producing the highest quality, condition specific medical marijuana for patients in Canada. Organigram’s facility is located in Moncton, New Brunswick and the Company is regulated by the Marihuana for Medical Purposes Regulations.
